it's absolutly worht it. hoarde all you can and also hoarde nickels too. it dosent cost much and it tends to satisfy the hoarding insticnt that most of us has. plus, the coin value is worth more than face value and there's also going to be some numismatics in them nickel boxes.
Quote: ...how about a table top? By using Red, Red Brown, and Brown cents.
A non collector might make a new penny pyramid to break the record of 1,030,315 which took 3 years. Personally I'd rather spend the 3 years looking for the bigfoot/sasquatch cents worth a fortune
It does not make economic sense to hoard cents or nickels. My father bought two $50 bags of cents in 1973. Yes, each of those cents contains 2.5 cents worth of copper. However, the buying power of 1 cent in 1973 is equivalent to 6.85 cents today, so in that case my coins have lost 50% of their value. Fortunately, they are uncirculated rolls, which sell for above $3 on ebay so I've essentially kept pace with inflation.
Inordinately fascinated by bits of metal with strange markings and figures
Good timing for this post. Heard about pennies in a home in LA recently. Here is a clip of the article, (A home built in the 1900s revealed a huge collection of pennies while being cleaned out by relatives. The home located in Los Angeles had more than one million pennies found in a crawlspace. The discovery was made by realtor John Reyes in the home that belonged to his father-in-law, according to local news outlet KTLA.) [https://www.nytimes.com/2023/06/12/...angeles.html]
I have my nice graded collection of Lincoln Cents. The last time I hoarded cents was in 1981. There was a shortage so I cashed them in at the bank with a 50% premium. They had a big old fashioned counter machine which was a nice extra. The premium is the best I've done except for selling all my silver dollars the year before at 25X face value and buying a CD that paid 16.15% interest. When it matured 2 1/2 years later I received $1.50 for each $1 I put in. I have never beaten that.
Quote: It does not make economic sense to hoard cents or nickels. My father bought two $50 bags of cents in 1973. Yes, each of those cents contains 2.5 cents worth of copper. However, the buying power of 1 cent in 1973 is equivalent to 6.85 cents today, so in that case my coins have lost 50% of their value. Fortunately, they are uncirculated rolls, which sell for above $3 on ebay so I've essentially kept pace with inflation.
To me, it's more likely that copper prices have been suppressed, just like silver and gold. Copper has been really in demand in the last several decades for industrial and technology uses, so it makes sense for the powers that be to try to suppress the price. Eventually, real price discovery will come to the commodities, including gold, silver, and copper.
I'm proud to report that I have now collected 30k copper pennies. I want to go to 300k, but my wife is setting the limit at 100k. Her reason is that there's no room for it, and it would be super hard to move. She has a point, but in the meantime, I'm going to keep collecting
I don't know why anyone would want to keep tens of thousands of face-value copper pennies. From a numismatic point of view, it sounds boring... not to mention a waste of space.
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Posted 04/24/2023 10:11 am
